Dow posts biggest one-day drop since October as recession fears take hold
Updated : August 15, 2019 06:29 AM IST
All three major US indexes closed down about 3 percent, with the blue-chip Dow posting its biggest one-day point drop since October after 2-year Treasury yields surpassed those of 10-year bonds, which is considered a classic recession signal.
Dire economic data from China and Germany suggested a faltering global economy, stricken by the increasingly belligerent US-China trade war, Brexit woes and geopolitical tensions.
The Dow Jones Industrial Average fell 800.49 points, or 3.05 percent, to 25,479.42, the S&P 500 lost 85.72 points, or 2.93 percent, to 2,840.6, and the Nasdaq Composite dropped 242.42 points, or 3.02 percent, to 7,773.94.
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